Una Brands, a Singapore-based startup, has entered the e-commerce roll-up space after raising $40 million in a seed round on May 5th. This is notable for being one of the largest seed funding rounds in Southeast Asia and one of the first few startups to focus on e-commerce aggregation. The round of funding includes both equity and debt financing. Una Brands, on the other hand, did not disclose the amount of equity and debt it raised in the $40 million round. Una Asiapacific 40mshutechcrunch.
According to Una Brands, the capital will be used to acquire and scale e-commerce brands in the Asia-Pacific region. The company plans to acquire companies that sell their products on popular e-commerce platforms like Amazon, Shopee, and Lazada. This is in line with the company’s stated mission of “creating the next generation of consumer goods conglomerate through the acquisition, streamlining, and scaling of profitable brands.” The company is looking for brands with annual revenues of $300,000 to $20 million. There are no specific business sectors being targeted. Una Brands, on the other hand, views strong SKUs and low seasonality as attractive features. According to the company, each brand will cost between $600,000 and $3 million to acquire. Brands Asiapacific 40mshutechcrunch.
A portion of the fund will also be used to aggressively hire additional personnel who will be in charge of evaluating the e-commerce brands that will be acquired. Una Brands has offices in Singapore, Australia, and Malaysia. The company intends to expand into other parts of Southeast Asia, as well as Japan, Taiwan, and South Korea. Investors in the round include 500 Startups, 468 Capital, Kingsway Capital, Global Founders Capital, and Presight Capital. Maximilian Bittner, the current CEO of Vestiaire Collective and the former CEO of Lazada, has also invested in the company. Una Brands 40mshutechcrunch.
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500 Startups Managing Partner Khailee Ng expressed confidence in Una Brands’ ability to achieve its goals and give rise to more viable e-commerce players in Asia-Pacific. “They are experienced, mature Co-Founders with a track record of speed, scale, and success,” Ng said. “APAC has a large and growing e-commerce market, with enormous opportunities for consolidation and optimization,” he added. Una Brands was founded in 2020 by Kiren Tanna, the former CEO of Rocket Internet and the founder of FoodPanda and ZEN Rooms. Tanna believes that the Asia-Pacific region’s e-commerce brands have enormous regional growth potential, owing to the fact that over 10 million of them operate on various regional online commerce platforms. Una 40mshutechcrunch.
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